Amazon reports $201.94B revenue, EPS miss sends shares down
Business
Amazon's latest earnings didn't quite meet Wall Street's hopes: revenue came in at $201.94 billion, just shy of forecasts, and profits per share were lower than expected too.
Investors weren't thrilled, sending Amazon's stock down more than 7% after hours.
Amazon free cash flow negative $42.4B
Amazon Web Services kept growing fast (up 39%), but the company's overall finances took a hit as free cash flow dropped to negative $42.4 billion, mostly because of heavy spending this quarter.
Looking ahead to the fourth quarter, Amazon's revenue forecast also fell short of expectations.
Even so, CEO Andy Jassy is staying positive about AWS and the future, but slower online sales and ad revenue could make the holiday season a bit tougher than usual.